Small Business Law

7. A court order directing payment from a partner’s share of profits.
11. Document filed for reporting a business’s income, often informational in partnerships.
12. Business structure that passes income directly to the owners to avoid double taxation.
13. Price paid to purchase a partner's share in the business.
14. The individual who takes the risks of a new business.
17. Legal ending of a partnership or business.

1. Legal doctrine where all partners share responsibility for liabilities together.
2. A business with a single owner and no legal distinction between the owner and the business.
3. When a person appears to be a partner but isn’t officially one.
4. Legal contract explaining how ownership changes are handled among partners.
5. The recipient of rights in a franchise relationship.
6. A business owned by two or more people with shared profits and responsibilities.
8. Term for the final steps of closing a business.
9. Legal document outlining rights and responsibilities in a partnership.
10. The person or entity granting the rights in a franchise.
15. Occurs when a partner leaves a partnership.
16. Responsibility where each partner is independently liable for obligations.